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in a new economy whose major product is intellectual property? monopolies -who's in control? with the help of our economic analyst richard gill, we'll find out on this edition of "economics usa." i'm david schoumacher. we like to think of our economy as one that runs on competition. for instance, we can choose the brand ofasoline weuy. if one station sets its prices too high, thene can simply go across thet if one station for a lower price.o high, if enough drivers pass the high-price station by, sooner or later it goes out of business. of course, if in order to attract business a station sets its prices too low and can't cover costs, sooner or later it'll go out of business, too. but what happens to prices if one company, or one person, controls all the gas stations? that was what the country faced in 1890. the company was standard oil -- the man was john d. rockefeller. this was the infant oil industry john d. rockefeller saw after the civil war. drilling equipment was hand- and foot-operated in those days and available cheap. anybodcould join the o rh, and anybody did. with thousands o
, which have grown with the economy and rewritten the rules of competition. what are the economic and legal rules these companies live by? what has big business done for and to the consumer? "whatever happened to price competition?" with the help of economic analyst richard gill, we'll examine these questions on this edition of "economics u$a." i'm david schoumacher. there's no business bigger than the auto business. if you've shopped for a car recently, this is a familiar sight. it looks like real competition, a variety of products at a variety of prices. but is what you see what you get? it was when you bought one of henry ford's model ts. henry ford didn't invent the car, and he didn't invent the assembly line, but he brought the two together and gave america its first mass-produced and mass-purchased car. ford was an inventor and mechanic by trade, and no effort was spared to improve the car and to improve the process by which it was built. the tin lizzie looked like the same car year after year, but ford's mechanical genius made it run better each year than the year before. h
been occupied by traders from far-off monte alban, an indication of a complex economy here. bill sanders. one of the aspects of culture that is extraordinarily variable is the economy. economy means the ownership of property and the production and distribution of goods. there are cultures and economies in which every nuclear family is self-sufficient. and then there are economies where there is considerable interdependence among the various households. one of the measures of economic complexity is just the amount of what we call division of labor -- occupational specialization. keach: archaeologists have recently discovered evidence of occupational specialization in teotihuacan, like the manufacture of clay figurines. figurines came in a variety of styles, many painted and highly detailed. thousands of these sculpted faces have been discovered. they were probably used in ritual. many are exactly the same, indicating they were mass produced in molds. across the atlantic is fez, morocco, a city that has changed little in a thousand years. here can be found an analogy for the econom
of the nation's airports were maintenance workers, marshals, and other security forces. america's economy had come to a screeching halt and congress was under pressure to get it moving again. for veteran republican pollster william mcinturff, the shock of septemberh caused historic shifts in american public opinion. right after the attack, 6 out of 10 americans said they were worried about flying. a month later, still almost a majority of americans said they were worried about flying. i think that people believed and the members of congress believed you had to take action to demonstrate something was being done to make sure that people could fly and be safe. our challenge was, is to say we've got to do something to get this economy going. now this is where public opinion played a serious role. poussaint: what was the best way to convince americans to get back on the plane in order to jump-start the economy? democrats wanted to make 28,000 airport screeners federal employees, with training and pay equal to law enforcement officers. republicans did not want any more federal employees. they want
will be adequately addressed in a four-day weekend, but we're convinced china can achieve a consumer-driven economy. we believe policies next week that would address the social security system, to address the family registration system and the land right policies will help china move forward on its economic rebalancing act. >> the third plenary session will begin on saturday next week in beijing. >>> japan's new car sales rose in october for the second straight month. that was due to strong demand for mini vehicles and introduction of new hybrid models. auto industry officials say sales totalled more than 420,000 vehicles last month, up 17% year on year. auto sales had been slowing down since september last year, when government subsidies for eco car buyers ended. among major makers, honda reported a 49% increase, thanks to brisk sales of a hybrid model it released in september. nissan sales grew 15%, and toyotas 12%. officials at the japan automobile dealers association predict that new car sales will continue to go up as automakers plan to roll out more new models. they also say many people may r
that would include an end to sanctions that have hurt the iranian economy. but hardliners have accused him of being soft on the u.s. >>> u.s. secretary of state john kerry has suggested he sees signs of a return to democracy in egypt. he made his first visit there since the army removed president mohamed morsi from power in july. kerry is trying to repair relations hurt by a partial freeze of u.s. aid. he met with the foreign minister in cairo. kerry said he believes democracy is crucial for stability and growth. >> we support you in this tremendous transformation that you are undergoing. >> they met a day before former president morsi goes on trial. last year morsi became egypt's first democratically elected president. now he faces charges of inciting violence and complicity in the deaths of prisoners. his supporters in the muslim brotherhood say they're planning to protest when the court proceedings get going later on monday. kerry called on the leaders of the group and security forces to exercise restraint. >>> kerry is heading to israel to try to push the middle east peace process forw
Search Results 0 to 5 of about 6